Shearman & Sterling LLP advised Genmab A/S in connection with a broad collaboration agreement with AbbVie Inc. to jointly develop and commercialize three of Genmab's early-stage investigational bispecific antibody product candidates and enter into a discovery research collaboration for future differentiated antibody therapeutics for cancer. Based on potential value, this agreement represents one of the largest oncology partnerships on record.
Under the terms of the agreement, AbbVie will pay Genmab $750 million in an upfront payment with the potential for Genmab to receive up to $3.15 billion in additional development, regulatory and sales milestone payments for all programs. The agreement also provides for tiered royalties or profit shares, depending on the product and territory. Included in these potential milestones are up to $1.15 billion in payments related to clinical development and commercial success across the three existing bispecific antibody programs. In addition, if all four next-generation antibody product candidates developed as a result of the discovery research collaboration are successful, Genmab is eligible to receive up to $2.0 billion in option exercise and success-based milestone payments.
The Shearman & Sterling team below included associate Nauka Patel.